Abbott's Solvay Pharma Buy More Salve Than Cure
Abbott Laboratories announced plans to acquire Solvay's pharmaceutical business for $6.6 billion Sept. 28, a strategic maneuver that seems as much about adding revenues to Abbott's top-line as addressing long-term challenges in the pharmaceutical pipeline
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Selecta Biosciences Inc. and BIND Biosciences Inc., two Boston-based -- and heretofore low-profile -- young biotechs, have raised a combined $94.5 million from a mix of equity financings and strategic alliances with one of the world's largest investment funds dedicated to nanotechnology, Rusnano, and other investors
The U.S. biotechs, which are independent but share founders and investors, raise a combined $94.5 million from the Russian sovereign fund and U.S. venture firms.
Thanks to the return of the initial public offering and a strong market for follow-ons, money from public investors made a huge comeback during the third quarter of 2009. The merger and acquisition scorecard totaled $17.3 billion from 22 transactions--four of which topped the billion-dollar mark. And in alliances, most notable was Johnson & Johnson and Elan Corp. PLC's joint venture, which will acquire all of the assets and rights to Elan's Alzheimer's Immunotherapy Program.